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PBGC Protects Benefits of 82,000 LTV Workers In Largest-Ever Federal Pension Takeover
Pension Benefit Guaranty Corporation [PBGC]Link to more items from this source
Mar. 29, 2002
Excerpt: The Pension Benefit Guaranty Corporation (PBGC) today announced it is taking over three underfunded pension plans covering some 82,000 workers and retirees of bankrupt steel maker LTV Corp., based in Cleveland.... With combined assets of almost $2.2 billion and benefit liabilities of $4.4 billion, the plans are underfunded by about $2.2 billion, PBGC estimates.

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